Exhibit contains the income statements and balance sheets of The Hershey Company for the years ended December
Question:
Consolidated Statement of Operations
1. Prepare common-size statements for Hershey for 2011 and 2010.
2. Comment on the changes in component percentages from 2011 to2010.
Transcribed Image Text:
CONSOLIDATED BALANCE SHEETS 2011 2010 Current assets $693,686 399,499 648,953 136,861 167,559 2,046,558 1,559,717 516,745 111,913 38,544 138,722 412,199 884,642 390,061 533,622 55,760 141,132 2,005,217 1,437,702 524,134 123,080 21,387 161,212 $4.272.732 Cash and cash equivalents Accounts receivable-trade Inventories Deferred income taxes Prepaid expenses and other Total curent assets Property, plant, and equipment, net Goodwill Other intangibles Deferred income taxes Other assets Total assets $4, Liabilities and Stockholders' Equity Current liabilities $420,017 612,186 1,899 42,080 Accounts payable Accrued liabilities Accrued income taxes Short-term debt Current portion of long term debt $ 410,655 593,308 9,402 24,088 261,392 1,298,845 1,541,825 494,461 3,335,131 1,173,775 1,748,500 617,276 3,539,551 Total current liabilities Long-term debt Other long-term liabilities Total liabilities Stockholders' equity: Common stock, shares issued: 299,269,702 in 2011 and 299,195,325 in 2010 299,269 299,195 Class B Common stock, shares issued: 60,632,042 in 2011 and 60,706,419 in 2010 Additional paid-in-capital Retained earnings Treasury-Common stock shares, at cost: 60,632 490,817 4,699,597 60,706 434,865 4,374,718 134,695,826 in 2011 and 132,871,512 in 2010 The Hershey Company stockholders' equity Total stockholders' equity (4,258,962) 4,052,101) (442,331)(215,067) 902,316 285 937,601 $4,272,732 Accumulated other comprehensive loss 849,022 23,626 872,648 $4,412,199 Noncontrolling interests in subsidiaries Total liabilities and stockholders' equity For Years Ended December 31, December 31, 2010 2011 Net sales $6,080,788 $5,671,009 Costs and expenses: Cost of sales Selling, marketing, and administrative Business realignment and impairment charges, net Total costs and expenses 3,548,896 1,477,750 (886) 5,025,760 1,055,028 92,183 962,845 333,883 3,255,801 1,426,477 83,433 4,765,711 905,298 96,434 808,864 299,065 628,962 $ 509,799 Income before interest and income taxes Interest expense, net Income before income taxes Provision for income taxes Net income Net income per common share-Basic-Class B Common stock 2.58 $ 2.08 Net income per common share-Diluted-Class B Common stock Net income per common share- Basic-Common stock $ Net income per common share -Diluted-Common stock$ 2.56 $ 2.85 $ 2.74 $ 2.07 2.29 2.21
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
1 THE HERSHEY COMPANY CommonSize Income Statements For the Year Ended December 31 2011 2010 Net sales 1000 1000 Costs and operating expenses Cost of sales 584 574 Selling marketing and administrative ...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
Question Posted:
Students also viewed these Managerial Accounting questions
-
Exhibit contains the income statements and balance sheets of The Hershey Company, manufacturer of such well-known products as Hersheys chocolate bars, Reeses peanut butter cups, Almond Joy candy...
-
Exhibit 1.18 presents common-size income statements and balance sheets for seven firms that operate at various stages in the value chain for the pharmaceutical industry. These common-size statements...
-
Exhibit 1.18 represents common-size income statements and balance sheets for seven firms that operate at various stages in the value chain for the pharmaceutical industry. These common-size...
-
Match each of the following energy band structures with the type of material it represents. Show Work A B C Empty conduction band Band gap Filled valence band Empty conduction band Band gap Filled...
-
Does it matter if capital leases are reported in a footnote or in the body of the balance sheet? What research evidence exists to help evaluate this question?
-
How are flexible budget reports useful in management by exception?
-
True or False: The cost of debt capital needs to reflect the tax deductibility of costs of debt.
-
Here is a student procedure to measure nicotine in urine. A 1.00-mL sample of biological fluid was placed in a 12-mL vial containing 0.7 g Na2CO3 powder. After 5.00 g of the internal standard...
-
What would be expected to eventually happen in this market given the price noted in question 2 (assuming the market is competitive)?
-
The River City Fire Department (RCFD) fights fires and provides a variety of rescue operations in the River City metropolitan area. The RCFD staffs 13 ladder companies, 26 pumper companies, and...
-
The financial statements of the Ito Company are shown in Exhibit. Compute the following for the 20X2 financial statements. 1. Return on total assets (computed using EBIT in the numerator). 2. Divide...
-
Exhibit contains the income statements and balance sheets of The Hershey Company for the years ended December 31, 2011, and December 31, 2010. Hershey manufactures and sells products under more than...
-
This information is available for the European Division of World Building Products Ltd for 2015. World Building Products uses the FIFO inventory method. Required (a) Calculate inventory turnover,...
-
Define each of the following terms: a. Real option; option value b. Growth option; abandonment option c. Investment timing option; flexibility option d. Marginal cost of capital; IRR schedule e....
-
Consider the Win Big Gambling Club media selection problem in Section 3.3 (Figure 3.4). In that formulation, we maximized audience coverage subject to an advertising budget constraint (plus other...
-
Suppose you have 100 common shares of Tillman Industries. The EPS is $4.00, the DPS is $2.00, and the stock sells for $60 per share. Now Tillman announces a twofor- one split. Immediately after the...
-
Coastal Carolina Heating and Cooling Inc. has a 6-month backlog of orders for its patented solar heating system. To meet this demand, management plans to expand production capacity by 45% with a $20...
-
Define each of the following terms: a. Target payout ratio; optimal dividend policy b. Dividend irrelevance theory; bird-in-the-hand fallacy c. Information content (signaling) hypothesis; clienteles;...
-
Davis Reyes is the accountant for Heads Up Hat Corporation. As he prepares the payroll for the semimonthly pay period ending December 15, he notices that some of the year-to-date executives salaries...
-
We all experience emotions, but some people disguise their true feelings better than others. Do you think this is a helpful or harmful thing to do? Under what conditions do you think it would be most...
-
Gellman Marketing Corporation reported the following stockholders equity at December 31 (adapted and in millions): Common stock.................................. $ 256 Additional paid-in...
-
Karen Knox Exports, Inc., is located in Clancy, New Mexico. Knox is the only company with reliable sources for its imported gifts. The company does a brisk business with specialty stores such as...
-
Greenwood Corporation earned net income of $85,000 during the year ended December 31, 2012. On December 15, Greenwood declared the annual cash dividend on its 8% preferred stock (20,000 shares with...
-
Define f : N^2 Z by f(x, y) = y x for all (x, y) N^2 . (a) Show that f is surjective. (b) Let S = {(x, y) N^2 : y = 2x 1}. Prove that f|S : S Z is injective
-
A About 20% of items, account for 80% of dollar usage B About 30% of items, account for 15% of dollar usage C About 50% of items, account for 5% of dollar usage Steps in making an ABC Analysis...
-
Consider the Cauchy problem for the equation of heat on the real line. UtuxxxER, t>0 u(x, 0) = (x), R Find the soluion when (x)= 1, x 1 10, x 1 Solve by the method of separation of variables please,...
Study smarter with the SolutionInn App